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SEC Approves MSRB Amendments to Municipal Fund Securities Reporting Form Requirements


The SEC approved an MSRB proposal to amend certain municipal fund securities reporting requirements under Form G-45. The form amendments will become effective on June 30, 2019.

As previously covered, the MSRB is amending Form G-45 to clarify data elements and to require additional data from underwriters of college savings plans (i.e., "529 savings plans") and Achieving a Better Life Experience ("ABLE") programs (issued under the ABLE Act). The amendments (i) clarify a data element concerning the program management fee assessed by a 529 savings plan or ABLE program, (ii) add a data element concerning the closing date for investment options offered in a 529 savings plan, and (iii) delete data elements concerning annualized three-year performance information.

Primary Sources

  1. MSRB Notice 2018-31: SEC Approves Amendments to MSRB Form G -45 to Modify and Clarify Certain Data Elements Submitted about 529 Savings Plans and ABLE Programs
  2. MSRB Rule G-45: Reporting of Information on Municipal Fund Securities

Tags

Regulated Activities
Regulatory Reporting
Regulated Products
Municipal Securities
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
MSRB